Ms Morris purchases $1 000 worth of fur-
niture for office use and entered it in the
journal as purchases. How will this error
affect her Balance Sheet?
(a)Fixed assets and net profit will be
decreased by $1 000.
(b)Fixed assets and net profit will be
increased by $1 000.
(c)Current assets and net profit will be
increased by $1 000.
(d)Current assets and net profit will
NOT be affected.
Answers
Answered by
0
Answer:
d
Explanation:
because purchase not affect on profit
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